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$ 995,000
Est. payment /mo
New
575 Somerset ST W Ottawa Centre, ON K1R 5K1
4 Baths
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 4102 - Ottawa Centre
MLS Listing ID X13086366
Annual Tax Amount $7,562
Tax Year 2026
Property Sub-Type Investment
Property Description
Rare dual-opportunity in the heart of Centretown. Buy cash flow today, build tomorrow. Three tenanted units generating verified income with a vacant basement offering additional income potential. Included is a complete, permit-ready 10-unit redevelopment package - full architectural, servicing, grading, electrical and tree reports. Building and demolition permits submitted to the City of Ottawa; first-round review complete with standard infill comments issued. Buyers can revise or proceed to resubmission under their own name. Set up for MLI Select financing: up to 95% LTV and 50-year amortization. Accessible lift included in plans with potential to add 2 additional storeys. 33' x 112' lot. 4 parking spaces. Walking distance to Bank St, Elgin, and Little Italy. Close to grocery, retail, dining, transit and LRT. Unit mix: 2 x 2-bedroom, 1 x 1-bedroom (tenanted) + basement unit (vacant). Permit-ready package, architectural drawings, and financials available. Contact listing agent for data room access.
Location
Province ON
County Ottawa
Area Ottawa
Interior
Cooling Partial
Exterior
Community Features Public Transit, Recreation/Community Centre
Utilities Available Yes
Lot Frontage 33.0
Lot Depth 112.5
Others
ParcelsYN No
Listed by PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.